superrific
Master of the ZZLverse
- Messages
- 11,006
I'm saying there is no dog or cat. It's all just an animal. Within that the labels are no longer chosen for financial reasons. They are probably chosen by some combination of: 1) truth in lender laws; 2) demands of secondary market; 3) benefits to the borrower; 4) anti-deficiency laws. That is, those are the constraints the system has to obey, and that's what gets us to the present system. Note I'm including "it's much simpler for people this way" within the rubric of truth in lending laws.